The Matrixswap group has integrated multiple Chainlink decentralized oracle solutions. It has incorporated Chainlink VRF to access the secured origin of on-chain unpredictability for seamless and indisputable raffle outcomes. It will also utilize Chainlink Price Feeds to attain top-quality, vandal-proof price information critical to maintaining correct pricing of collateral assets, token swaps, and precise liquidation handling.
Matrixswap is a decentralized digital-AMM-based perpetual swaps trade protocol that also includes a DEX aggregator. This DEX Aggregator allows the user to group multiple tokens into a single exchange.
When placing collateral into Matrixswap’s security vaults or executing a transaction, the Chainlink connection will give Matrixswap customers solid reassurance that the system is getting valid and realistic price data.
Matrixswap recognizes the necessity of connecting with protocols that would provide dependable services to strengthen the DeFi ecosystem while improving its decentralized trading platform. When it comes to oracle services, Chainlink is the industry norm. That is why Matrixswap has decided to incorporate Chainlink Price Feeds into its everlasting swaps trading system.
Matrixswap picked Chainlink as its preferred oracle because its framework is simple and proven in the field. Chainlink provides safety to top-notch DeFi protocols that hold tens of billions of dollars in the value of smart contracts, ensuring better accessibility and rigorous quality even during chance events like flash accidents, exchange outages, and data manipulation threats via flash loans.
Chainlink Price Feeds was incorporated because of the following features:
- Data of exceptional quality – Chainlink Price Feeds gather information from many quality data providers, resulting in price information generated by dozens of exchangers, balanced by size, and free of anomalies and dubious quantities. The data gathering approach used by Chainlink creates highly accurate worldwide market rates that are resistant to API outages, flash crash anomalies, and data manipulation attempts such as flash lending.
- Secure Node Operators – Autonomous, Sybil-resistant oracle servers managed by premier blockchain DevOps groups, network operators, and conventional organizations with a successful track record for uptime, especially amid high gas prices, protect Chainlink Price Feeds.
- Decentralized Network -, Chainlink Price Feeds are decentralized at the source of data, oracle nodes, and oracle system level, resulting in robust defenses against unavailability and manipulation either by the data company or the oracle system.
- Visibility – Chainlink offers a sophisticated reputation system and a collection of on-chain surveillance devices that enable customers to objectively evaluate the previous performance of node owners and oracle systems and examine the actual prices being given.
About Matrixswap
Matrixswap is a decentralized perpetual swaps trading mechanism built on the Polkadot, Cardano, and Polygon blockchains. Customers can short or long any asset’s perpetual agreements offering up to 25x leveraging, unlike standard AMMs. Matrixswap aspires to be a completely society-owned and run Defi system.